Daily Current Affairs 26 August 2021 for Banking/Insurance/SSC and other related exams.
Ministry of Jal Shakti launches 100 days ‘SUJALAM’ Campaign
Jal Shakti Ministry began SUJALAM, a 100 days campaign as part of the Azadi Ka Amrit Mahotsav celebrations to create more and more ODF Plus villages by undertaking waste water management at village level.
- During this campaign ten lakh Soak-pits will be created. The Ministry said, the effort of campaign would be directed towards achieving the ODF plus status for villages across the country in an accelerated manner in a short time. The Campaign will continue to run for the next 100 days.
- The focus area of this campaign is to ensure that all newly emerging Households in the village have access to toilets.
Govt launches SAMRIDH programme to boost start-up ecosystem in country
With an aim to boost the start-up ecosystem in the country, the Ministry of Electronics and Information and Technology (MeitY) launched Start-up Accelerators of MeitY for pRoduct Innovation, Development and growth (SAMRIDH).
- The SAMRIDH programme will focus on accelerating the 300 start-ups by providing customer connect, investor connect, and international immersion in the next three years.
- Also, an investment of up to Rs 40 lakh to the start-up based on current valuation and growth stage of the Start-Up will be provided through selected accelerators. It will also facilitate equal matching investment by the accelerator/investor.
- The programme aims to further the Indian start-up growth which has seen the emergence of 63 Unicorns is now the third-largest Unicorn hub globally with a total valuation of 168 billion USD.
‘Ain Dubai’: UAE announces the world’s tallest observation wheel
The world’s largest and tallest observation wheel will open in the UAE on October 21, the latest landmark to join Dubai’s long list of record-breaking attractions.
- At nearly twice the height of the London Eye, Ain Dubai will take visitors to a height of 250 metres from where they could enjoy a majestic view of Dubai’s picturesque skyline.
- Located at Bluewaters Island, it will offer experiences starting with one rotation of approximately 38 minutes, up to two rotations of approximately 76 minutes.
BANKING & FINANCE
BharatPe enters consumer P2P lending with ‘12% Club’ app
BharatPe said it has entered peer-to-peer (P2P) lending with its product ‘12% club’, which will allow consumers to not only earn 12 per cent interest on the funds they invest but also borrow at an interest rate of 12 per cent.
- The fintech company has partnered with central bank approved non-banking finance companies to offer this product to consumers and is aiming to achieve an investment asset under management (AUM) of $100 million and a lending AUM of $50 million by March 2022.
- Consumers on the ‘12% Club’ app can invest their savings anytime by choosing to lend money through BharatPe’s partner P2P NBFCs. Additionally, consumers can avail of collateral-free loans of upto Rs 10 lakhs on the ‘12% Club’ app for a tenure of three months, as per their convenience. There are no processing charges or pre-payment charges on the consumer loans.
Bajaj Finserv gets in-principle approval from SEBI for mutual fund business
Bajaj Finserv will be the latest entrant to the Rs 35-trillion mutual fund (MF) industry after the company received in-principle approval from the Securities and Exchange Board of India (Sebi).
- In an exchange notification on the BSE, Bajaj Finserv stated that the company has received approval from Sebi through its letter dated August 23 for sponsoring an MF.
- Accordingly, the company would be setting up an asset management company (AMC) and the trustee company, directly or indirectly i.e., itself or through its subsidiary in accordance with applicable Sebi regulations and other applicable laws.
Dubai sets up specialised money laundering court
Dubai has formed a specialist court that will focus on fighting money laundering and other financial crimes, as the emirate seeks to strengthen the integrity of its financial system and support nationwide efforts to clamp down on money laundering.
- The new entity will be set up within the Court of First Instance and Court of Appeal, the Dubai Media Office.
- The move comes after the UAE established the Executive Office of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), under directives from Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, to oversee the implementation of the country’s anti-money laundering strategy.
BUSINESS & ECONOMY
Infosys becomes 4th Indian company to touch $100 billion m-cap
Infosys became the fourth Indian company to touch a market valuation of $100 billion.
- The IT services major has joined the league of TCS, Reliance Industries and HDFC Bank for crossing the $100 billion-mark in terms of market capitalisation (m-cap).
- The milestone was achieved during the morning trade when the scrip was trading at its 52-week high value of Rs 1,755.6 on the BSE, which took the m-cap to Rs 7. 47 trillion or $100.78 billion. However, during the close of the trading session, it pared the earlier gains and settled 1.06 per cent lower at Rs 1,720.75.
Microsoft teams up with Invest India to support 11 tech startups
US-based multinational technology company Microsoft has teamed up with India’s national investment promotion and facilitation agency Invest India to support tech startups in the country.
- Under this collaboration, Microsoft for Startups program will work with the Government’s Accelerating Growth for New India’s Innovations (AGNIi Mission), a program of the Office of the Principal Scientific Adviser to the Government of India which helps startups become enterprise ready.
India pips US to be 2nd most attractive manufacturing hub
India has overtaken the US to become the second-most sought-after manufacturing destination globally, driven mainly by cost competitiveness, according to real estate consultant Cushman & Wakefield.
- China remains at number one position, the consultant said in its 2021 Global Manufacturing Risk Index, which assessed the most advantageous locations for global manufacturing among 47 countries in Europe, the Americas and Asia-Pacific.
- The US is at the third position, followed by Canada, Czech Republic, Indonesia, Lithuania, Thailand, Malaysia and Poland.
US-based Ohmium launches India’s first green hydrogen electrolyzer gigafactory
Ohmium International, a US-based renewable energy start-up, said it has launched India’s first green hydrogen electrolyzer gigafactory at Bengaluru through its India subsidiary.
- The gigafactory will manufacture India-made Proton Exchange Membrane (PEM) hydrogen electrolyzers with an initial manufacturing capacity of about 500 MW per year and will scale it up to 2 GW per year.
- The PEM hydrogen electrolyzer is the main equipment for the production of green hydrogen as it uses power generated from renewable resources to break water into hydrogen and oxygen.
Manika Batra, G. Sathiyan win mixed doubles final at World Table Tennis Contender
Manika Batra and Sathiyan Gnanasekaran put up a clinical show in the mixed doubles final at the WTT (World Table Tennis) Contender Budapest 2021 as they defeated the Hungarian pair of Nandor Ecseki and Dora Madarasz 3-1.
- They registered an 11-9, 9-11, 12-10, 11-6 win in the final to win the title. However, Manika lost in the semi-final of the women’s singles and could not make the final.
- Manika lost her semi-final 4-0 to Russian Elizabet Abraamian, who takes on Mongolia’s Xiaoxin Yang in the final. Manika lost 10-12, 9-11, 10-12, 8-11 to lose the chance of a double at the event.
Sathiyan Gnanasekaran Wins ITTF Czech International Open Men’s Singles Title
India’s top paddler G Sathiyan beat Yevhen Ryshchepa of Ukraine comprehensively and in straight sets 11-9, 11-6, 11-6,14-12 in the final of the Czech International table tennis tournament at Olomouc in Czech Republic.
- The Indian stormed into the final after his semifinal rival Truls Moregard of Sweden conceded in the third game due to back pain 11-4, 11-8, 8-2. Last week, the Swedish sensation had won the WTT Contender Budapest.
- This is only his third ITTF Challenger title following triumphs in Belgium Open 2016 and Spanish Open 2017.
Sandeep Bakshi re-appointed as MD and CEO of ICICI Bank
The Reserve Bank of India (RBI) has approved the re-appointment of Sandeep Bakhshi as the managing director and chief executive officer of ICICI Bank, the private lender said in a regulatory filing on August 24.
- The re-appointment will come into effect on October 15, 2021, and the tenure will continue till October 3, 2023.
Health Minister Mansukh Mandaviya takes over charge as Chairperson of Stop TB Partnership Board
Health Minister Mansukh Mandaviya took over charge as the Chairperson of Stop TB Partnership Board. He will hold the responsibility until 2024.
- He will lead the efforts of the Stop TB Partnership Secretariat, partners, and the TB community towards reaching the UN TB targets by 2022, in the effort to end TB by 2030.
International Dog Day
International Dog Day is observed every year on August 26 to raise awareness about dog adoption and the importance of providing rescue dogs with a safe and loving environment.
- International Dog Day celebrates dogs of all breeds. It also highlights animal cruelty prevalent in society.
Akshay Urja Diwas 2021
India celebrates Akshay Urja Diwas every year on 20 August, to create awareness about the importance of renewable resources of energy and to commemorate the birth anniversary of the late Prime Minister Rajiv Gandhi.
- The main objective or aim behind celebrating this day is to make people aware of the use of natural sources of energy like hydroelectric power, solar energy, wind energy, and biogas because the earth’s resources are depleting at a dangerous rate every day.